Austral Gold Limited — AGM Information 2012

Nov 27, 2012

Chairman’s Address

Austral Gold Limited General Meeting – 28 November 2012

Company Update

Austral Gold holds three major mining and exploration assets. These comprise:

• two exploration areas in Argentina – 8 de Julio, Santa Cruz and San Juan

• and our flagship asset – the Guanaco gold and silver mine in northern Chile.

Our Guanaco Gold and Silver mine is wholly-owned by Austral Gold’s and is the company’s largest asset. It’s located at an elevation of 2,700 meters, 200km south east of Antofagasta in Northern Chile. This area is home to the Palaecone / Eocene Belt and hosts several large gold and copper mining operations.

In the 2011 Calendar Year we produced 12,373 ounces of gold and 37,511 ounces of silver. In the 9 months to September this year we have produced 20,374 ounces of gold and are on track to produce 35,000 gold equivalent ounces for the full 2012 calendar year.

Cash generated from the sale of gold and silver enabled the repayment of US$2.3m to IFISA in May. Funds owing to IFISA at the end of September totalled $58.8 million US dollars.

At 30 September, we had $1.5 million cash in the bank and a further $2 million of gold bullion on hand.

These achievements have strengthened Austral Gold’s financial footing and place it well to further improve operating and financial performance this year and beyond.

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Welcome to the Austral Gold Annual General Meeting

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ASX: AGD www.australgold.com.au

28 November 2012

Guanaco: First Gold Pouring

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Guanaco: Heap Leaching

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Santa Cruz, Argentina

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Guanaco: Cachinalito Ramp

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Guanaco: Heap Leaching

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Guanaco: Crusher at Chancado

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San Juan: Exploration Camp

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San Juan: Sampling

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Guanaco: Safety Refuge

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San Juan, Argentina

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Guanaco: Underground Operations

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Santa Cruz, Argentina

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Guanaco: Exploration Drilling

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Santa Cruz: Exploration Office

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Guanaco: Sampling

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Guanaco: Dumbo Pit

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San Juan, Argentina

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Guanaco: Underground Operations

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Proxies

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Resolution	No. Valid	For	Against	Abstaining	Open
Item 1: Receive and consider Financial Statements and Directors Report
Item 2: Adoption of Remuneration Report	147,997,106	147,957,286	19,810	-	20,010
Item 3: Re-election of Mr Eduardo Elsztain	147,997,106	147,962,096	15,000	-	20,010
Item 4: Re-election of Mr Stabro Kasaneva	147,997,106	147,962,096	15,000	-	20,010
Item 5: Approval of additional capacity to issue 10% of securities	147,997,106	147,959,596	17,500	-	20,010
Item 6: Amendments to Austral Gold Limited Constitution – electronic communication	147,997,106	147,977,096	-	-	20,010

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